Integrated Wealth Concepts LLC Sells 417 Shares of Ferguson plc (NASDAQ:FERG)

Integrated Wealth Concepts LLC lessened its position in Ferguson plc (NASDAQ:FERG) by 26.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,140 shares of the company’s stock after selling 417 shares during the period. Integrated Wealth Concepts LLC’s holdings in Ferguson were worth $226,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of FERG. Ascent Group LLC increased its holdings in shares of Ferguson by 9.4% in the third quarter. Ascent Group LLC now owns 8,008 shares of the company’s stock worth $1,590,000 after acquiring an additional 687 shares in the last quarter. Paloma Partners Management Co bought a new stake in Ferguson during the 3rd quarter worth approximately $3,214,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Ferguson during the 3rd quarter worth approximately $483,000. Point72 Hong Kong Ltd bought a new position in Ferguson in the third quarter valued at approximately $27,947,000. Finally, Socorro Asset Management LP boosted its holdings in shares of Ferguson by 1.2% in the third quarter. Socorro Asset Management LP now owns 41,375 shares of the company’s stock valued at $8,216,000 after buying an additional 500 shares during the period. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Ferguson

In related news, insider Ian T. Graham sold 5,778 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $201.27, for a total transaction of $1,162,938.06. Following the transaction, the insider now directly owns 5,938 shares of the company’s stock, valued at approximately $1,195,141.26. The trade was a 49.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Victoria Morrissey sold 1,468 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $201.20, for a total value of $295,361.60. Following the completion of the sale, the chief marketing officer now owns 5,205 shares in the company, valued at approximately $1,047,246. This trade represents a 22.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,313 shares of company stock worth $2,477,901. Insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Wells Fargo & Company dropped their price objective on shares of Ferguson from $232.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday. Robert W. Baird dropped their price target on Ferguson from $230.00 to $225.00 and set an “outperform” rating on the stock in a research note on Wednesday. UBS Group upped their price objective on Ferguson from $228.00 to $236.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $219.00 target price on shares of Ferguson in a research report on Wednesday. Finally, Berenberg Bank upped their price target on Ferguson from $224.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Ferguson presently has a consensus rating of “Moderate Buy” and an average target price of $231.00.

Ferguson Stock Down 1.5 %

FERG stock opened at $187.47 on Friday. Ferguson plc has a twelve month low of $183.63 and a twelve month high of $225.63. The company has a market cap of $37.48 billion, a price-to-earnings ratio of 22.51, a P/E/G ratio of 1.95 and a beta of 1.21. The company has a quick ratio of 1.00, a current ratio of 1.80 and a debt-to-equity ratio of 0.89. The business has a 50 day moving average price of $203.74 and a two-hundred day moving average price of $202.32.

Ferguson (NASDAQ:FERG) last released its earnings results on Tuesday, September 17th. The company reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.86 by $0.12. Ferguson had a net margin of 5.68% and a return on equity of 34.85%. The business had revenue of $7.95 billion during the quarter, compared to analysts’ expectations of $8.01 billion. During the same period last year, the business earned $2.77 earnings per share. The firm’s revenue was up 1.4% on a year-over-year basis. Analysts anticipate that Ferguson plc will post 9.59 EPS for the current fiscal year.

Ferguson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 6th. Stockholders of record on Friday, December 20th will be issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.77%. This is a boost from Ferguson’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend is Friday, December 20th. Ferguson’s dividend payout ratio is presently 37.94%.

Ferguson Profile

Ferguson plc distributes plumbing and heating products in the United States and Canada. It offers plumbing and heating solutions to customers in the residential, commercial, civil/infrastructure, and industrial end markets. The company also provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, fabrication, and others, as well as heating, ventilation, and air conditioning products under the Ferguson brand name.